Required Information The following information applies to the questions displayed below.) The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 435,000 Actual manufacturing overhead Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: Beginning inventory, January 1 Purchases during the year Ending inventory, December 31 $231.000 21,000 82.000 200,000 59,000 30,000 300,000 79,000 48,000 94,000 63,000 Required: 1. Compute the firm's predetermined overhead rate, which is based on direct Jabor hours. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH Required information [The following information applies to the questions displayed below.) The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour ndgeted manufacturing overhead: $997,500 Jal selling and administrative expenses: 435,000 Actual manufacturing overhead: Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: Beginning inventory, January 1 Purchases during the year Ending inventory, December 31 $231,000 21,000 82,000 200,000 59,000 30,000 300,000 79,000 48,000 94,000 63,000 2. Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal places.) Required information (The following information applies to the questions displayed below.) Burlington Clock Works manufactures fine, handcrafted clocks. The firm uses a job-order costing system, and manufacturing overhead is applied on the basis of direct labor hours. Estimated manufacturing overhead for the year is $240,000. The firm employs 10 master clockmakers, who constitute the direct-labor force. Each of these employees is expected to work 2,000 hours during the year, which represents each employee's practical capacity. The following events occurred during October a. The firm purchased 3,000 board feet of mahogany veneer at $11 per board foot. b. Twenty brass counterweights were requisitioned for production. Each weight cost $23. c. Five gallons of glue were requisitioned for production. The glue cost $20 per gallon. Glue is treated as an indirect material. d. Depreciation on the clockworks building for October was $8,000. e. A $400 utility bill was paid in cash. 1. Time cards showed the following usage of labor Job number G60: 12 grandfather clocks, 1,000 hours of direct labor Job number C81: 20 cuckoo clocks, 700 hours of direct labor The master clockmakers (direct labor personnel) earn $20 per hour. g. The October property tax bill for $910 was received but has not yet been paid in cash. h. The firm employs laborers who perform various tasks such as material handling and shop cleanup. Their wages for October amounted to $2,500. i. Job number G60, which was started in July, was finished in October. The total cost of the job was $14,400, J. Nine of the grandfather clocks from job number G60 were sold in October for $1.500 each. Required: 1. Calculate the firm's predetermined overhead rate for the year Predetermined overhead rato per DLH
